UCASU's 2021 net income may yield
more than $0.10 per share dividend
Atlanta, GA -- November 8, 2021 -- InvestorsHub NewsWire -- UC
Asset LP (OTCQX:
UCASU)'s management projects today that the company's net
income in 2021 will likely be more than adequate to deliver the
proposed $0.10 per share dividend.
The projection is made just 10 days before the company's annual
shareholder meeting, which is scheduled for November 18, 2021, at
9:00 am eastern time. Due to COVID pandemic, this annual meeting
will be held virtually as a Zoom meeting. Meeting notices have been
sent to eligible shareholders in the past weeks.
"At this moment, it appears that some of our investments made in
2020 will yield great return in this year, and we will have more
than enough investment gain to offset operating cost, and deliver
the $0.10 per share dividend we've proposed, "says Greg Bankston,
managing general partner of UC Asset.
However, Mr. Bankston cautions that there is still uncertainty
regarding UC Asset's portfolio, and its business situation may
change in the last two months of 2021. "Investors should keep
things in perspective and take consideration of uncertainty." Mr.
Bankston exhorts.
Another factor is that UC Asset's management has arbitrary
power to withhold any amount of dividend for further investments.
However, Mr. Bankston believes that the company has enough
cash to support its current business plan, and a withholding of
dividend is unlikely.
"Our cash position is strong. We believe we have adequate cash
to distribute the proposed dividend, and beyond that, we are also
seeking additional opportunities to invest," claims Bankston.
Any persons who hold UC Asset's shares by the end of the last
trading day of the year 2021 will be eligible to receive dividends,
if any.
About UC Asset LP
UC Asset LP is a limited partnership
formed for the purpose of investing in real estate with innovative
strategies, concentrating in metropolitan areas of Atlanta,
GA. For more
information about UC Asset, please visit: www.ucasset.com
Disclaimer:
This News Release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause our
actual results, performance or achievements, or industry results,
to differ materially from any these statements. You are cautioned
not to place undue reliance on any those forward-looking
statements. Except as otherwise required by the federal securities
laws, we undertake no obligation to publicly update or revise any
forward-looking statements after the date of this news release.
None of such forward-looking statements should be regarded as a
representation by us or any other person that the objectives and
plans set forth in this News Release will be achieved or be
executed.
For More Information Contact:
Christal Jordan | Executive Director, UC Asset LP
cjordan@ucasset.com |
678-499-0297